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PLEASE TAKE NOTE OF THE FF

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P corporation, an SME, paid P3,000,000 for a 90% interest in S Company on January 1, 2019. The stockholders of S Company included share capital of P2,000,000 and retained earnings of P1,000,000. Of the excess of total consideration (purchase price plus NCI) over book value, 60% is attributable to undervalued inventories and the remainder to goodwill. All inventories are sold in 2019. Also, on April 1, 2019, P sold an equipment to S for P300,000 (carrying value is P250,000 with remaining life of 5 years). S's net income for the year is P522,500. How much is the NCI at the end of 2019? *